The yacht market has been blowing up for a number of years. Global yacht sales reached $8.15 billion in 2020. Sales are projected to keep growing by at least 5.2% each year until 2028.
The demand for yachts is so great that dealers can’t keep up. This is the perfect time to seek out a yacht broker if you’re looking to sell a yacht or buy a yacht.
Keep reading to learn how to make the most of a yacht broker if you’re in the market to buy or sell a used yacht!
1. A Yacht Broker Knows The Industry
Whether you’re buying or selling a used yacht, a yacht broker will have expert knowledge on the current state of the industry. This can work to your benefit for a number of reasons.
Sometimes not even knowing the resale value is enough if you want to sell a yacht. Certain models could be highly in demand, going for quite a bit more than their current resale value.
Likewise, if you’re buying a used yacht, a yacht broker will have an instinctual understanding of the market. A used yacht might come on the market at an exceptionally good deal, which a yacht broker would recognize. They’ll even be able to emphasize the bargain, so you can know to act with urgency!
2. A Yacht Broker Has Connections
A reputable yacht broker will have connections at every level of the boating industry. They’ll likely have a list of clients and what they’re looking for.
Say you have a 1989 Hatteras FB MY that you’re considering selling. A yacht broker might have a client in the Bahamas who’s been looking for that specific model. If things work out right, it might even be sold before it’s even listed.
This works for those looking to buy a used yacht, as well. You can talk to your yacht broker and explain precisely what you’re looking for. At the least, this can work as an advanced query. You simply have to describe what you’re looking for to your broker, and they’ll be able to help you find it.
At best, this can help you avoid bidding wars, which can drive prices far above market value.
3. A Yacht Broker Knows What To Look For
You wouldn’t buy a house without having it inspected, would you? A yacht is every bit as much of an investment as a home. Little details can make an enormous difference, as repairs can at times get prohibitively expensive.
A yacht broker will know how to inspect the hull to ensure structural integrity. They’ll examine the motors and engines to make sure everything’s in good working order. They’ll even make sure that the exterior has been maintained recently, so you won’t have to worry about damage due to the elements.
Working with a yacht broker removes all of the anxiety from buying a used yacht, so you can focus on enjoying the process and getting what you want. The boat-buying process is smooth sailing when you’ve got an expert behind the wheel!
Looking For A Yacht Broker?
There’s a lot to know about buying or selling a used yacht. At Massey Yacht, we have over 40 years of experience in the luxury boating business.
If you’re ready to find out how a yacht broker can help you with your yacht, get in touch with us today and let us know how we can help!